Portland, OR, Sept. 14, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the U.S. topical pain relief market was accounted for $2.32 billion in 2017 and is projected to reach $3.73 billion by 2025, registering a CAGR of 6.0% from 2018 to 2025. The research offers a detailed analysis of major segments, changing market trends, top pocket investors, drivers & opportunities, and competitive scenarios.
Topical pain relief medications are pain killers that are designed to relieve pain as they are composed of different ingredients such as opioids, nonsteroidal anti-inflammatory drugs (NSAIDS), salicylates, capsaicin, and others. These products have a heating or cooling effect that stimulate the nerves near the pain point and relieve pain. When pain is localized, patients highly prefer topical treatments as adjunctive therapy, which can be as effective as oral treatments and cause fewer side effects. They are directly applied, rubbed, or sprayed on the skin over painful muscles or joints.
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Covid-19 scenario:
- Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production.
- However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
The key factors that drive the U.S. topical pain relief market growth includes increase in prevalence of arthritis, rise in number of patient with joint pain, diabetic neuropathy, and other bone disorders across the U.S. In addition, rise in geriatric population, fewer side effects caused by topical pain relief as compared to oral medications, easy availability of medication, and high adoption of topical pain relief products by sportsperson. However, topical pain relief medications can cause irritation, and these products are usually characterized by an unpleasant odor, which impede the market growth. Conversely, the development of an online platform for topical therapeutics is expected to provide lucrative growth opportunities for the U.S. market.
The report offers a detailed segmentation of the U.S. topical pain relief market based onformulation, type, distribution channel
Based on formulation, the cream segment held the largest share in 2017, contributing nearly two-fifths of the total share. The segment is expected to continue its lead position throughout the estimated period. However, the patch segment would grow at the fastest CAGR of 7.6% during the forecast period.
Based on type, the over-the-counter pain relief segment held the largest major market share in 2017, accounting for more than half of the total market share. This region would continue its leadership position throughout the forecast period. Moreover, the segment would grow at the highest CAGR of 6.6% during the forecast period.
Based on the distribution channel, the pharmacies & drug stores segment held the largest share in 2017, contributing nearly four-fifths of the total share. The segment is expected to continue its position throughout the estimated period. However, the e-commerce segment would grow at the fastest CAGR of 8.7% during the forecast period.
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Leading market players analyzed in the researchNestle S.A., Johnson & Johnson, Novartis AG, Sun Pharmaceutical Industries Ltd., GlaxoSmithKline Plc., Pfizer Inc., Reckitt Benckiser Group Plc., Sanofi S.A., Topical BioMedics, Inc and AdvaCare Pharma.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.